First Indiana shareholders OK Marshall & Ilsley merger

By Lisa Kerner

Charlotte, N.C., Dec. 19 - First Indiana Corp. shareholders approved the proposed acquisition of the company by Marshall & Ilsley Corp. in a deal valued at $32 per share, or $529 million.

The companies announced their definitive agreement on July 9.

First Indiana expects to complete the transaction on or about Jan. 1 and to begin operating its locations under the M&I Bank name on or about Feb. 4, a company news release stated.

First Indiana is the holding company for First Indiana Bank, NA. It is based in Indianapolis.

Marshall & Ilsley is a diversified financial services corporation located in Milwaukee, Wis.

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